Location: Rochester, NY | Metro: Rochester, NY MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $211,816 | 0.67% | D |
| 3BR | $1,710 | $254,921 | 0.67% | D |
| 4BR | $1,880 | $293,284 | 0.64% | D |
U.S. Census Bureau data (2024)
The potential pitfalls of investing in ZIP 14560 in Springwater, NY, under the Section 8 program are significant. Firstly, tenant turnover is a critical issue, with the market rent standing at $1,114 compared to the Fair Market Rent (FMR) of $1,340 for FY 2024. This discrepancy suggests that tenants might be more likely to leave once their voucher expires, seeking higher rent subsidies elsewhere. Secondly, vacancy exposure is a concern due to the lack of data on days on market (DOM), which indicates an unpredictable rental market. Landlords should also be wary of deferred maintenance costs, especially considering the typical home value of $213,517 and a median income of $75,257. The latter figure implies that many residents may struggle to cover maintenance expenses, potentially leading to higher repair costs for landlords.
However, these risks must be weighed against the substantial 20.2% share of renters in the area. High renter density typically correlates with a higher demand for housing vouchers, which can stabilize occupancy rates and ensure a steady stream of tenants. In this context, the availability of Section 8 vouchers can mitigate the risk of vacancy and provide a reliable source of income.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.